• Wed. Feb 21st, 2024

Car retail sales May 2023

Car retail sales May 2023
Hyundai Creta
Hyundai Creta

The passenger vehicle segment jumped to positive growth in May 2023 after a decline of 1.35 percent reported in April 2023.

The Federation of Automobile Dealers Associations (FADA) released retail sales data for May 2023, which recorded growth across all vehicle segments. The 2W category improved by 9 percent, 3W by 79 percent and PVs by 4 percent. Tractors and commercial vehicles grew by 10 percent and 7 percent year-on-year respectively.

We are talking about passenger vehicles here, retail sales rose to 2,98,873 units in May 2023, up 4.31 percent from 2,86,523 units sold in May 2022. This is a volume growth of 12,350 units. Compared to April 2023 sales, MoM retail sales improved from 2,82,674 units sold in the said month.

Car retail sales May 2023

The passenger vehicle segment staged a comeback in May 2023, supported by a series of new launches, backlog orders completed and steady demand for SUVs and MPVs. In May 2022, Maruti Suzuki took the top spot with sales of 1,18,500 units, up from 1,19,315 units. The company’s market share declined from 41.64 percent to 39.65 percent. It was the only automaker to cross 50,000 units in terms of retail sales.

Hyundai was second with retail sales of 45,297 units in May 2023. This is a growth of 3,590 units compared to 41,707 units sold in May 2022. Market share also improved to 15.16 percent from 14.56 percent in May 2022. The new Hyundai Verna, launched in March 2023, has brought good numbers, while sales will pick up in July 2023 when the Hyundai Xter SUV is launched.

Car retail sales May 2023

Tata Motors reported a year-on-year increase in retail sales to 41,824 units from 35,762 units sold in May 2022. Tata Motors has seen increased demand for its electric lineup and now plans to introduce new CNG and electric cars to sustain growth.

Mahindra retail sales improved to 32,628 units in May 2023 from 21,459 units sold in the same month last year. This is a volume growth of 11,169 units. Mahindra Scorpio, Bolero and XUV700 are leading in sales. Each of these models carries a long waiting period of 6-18 months depending on the model and variant.

Kia India’s retail sales fell to 16,819 units from 17,355 units sold in May 2022. Toyota sold 14,617 units last month, down from 12,107 units sold in May 2022. Honda Cars retail sales fell to 5,079 units in May 2022.

Renault India is another automaker that recorded growth in retail sales from 6,806 units sold in May 2022 to 4,381 units. At retail.

Luxury car retail sales May 2023

In the luxury car segment, Mercedes-Benz sales increased to 1,146 units last month from 1,062 units sold in May 2022. In May 2023, the company also introduced the 2023 Mercedes-Benz A-Class Limousine starting at Rs 45.8.

BMW India’s retail sales improved by 131 units to 916 units in May 2023 from 785 units sold in May 2022. Jaguar sales improved to 296 units last month from 132 units sold in May 2022, while Volvo Auto’s sales rose to 1423 units. units for the respective months.

PCA Automobile (Citroen) sales grew significantly from retail sales of just 36 units in May 2022 to 830 units last month. Jeep sales fell to 629 units in May 2023 from 922 units sold in May 2022. Retail sales to 506 units from 330 units sold in May 2022. BYD (138 units), Isuzu Motors (90 units) and Porsche (48 units) also posted growth in retail sales each year, while other OEMs contributed 2,156 units. From 7,956 units sold in May 2022 to total retail sales in May 2023.

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